Bitcoin ETFs Growing as BTC Holds Steady
Bitcoin may not be moving much right now, pointing to the token's stability, but we are seeing plenty of movement for Bitcoin ETFs.
Quick overview
- Bitcoin ETFs have seen significant growth, with $226 million in inflows recorded on July 24th.
- Despite Bitcoin's price only increasing by 0.53% in the last week, ETF inflows indicate strong investor interest.
- Bitcoin's recent stability has led to decreased trading activity and investor interest, as it remains relatively unchanged compared to other cryptocurrencies.
- Future movements in Bitcoin's value may be influenced by upcoming Federal Reserve meetings and international trade negotiations.
Live BTC/USD Chart
Bitcoin (BTC) may not be moving much, but we are seeing excellent growth from Bitcoin ETFs. For July 24th, $226 million in ETF inflows were recorded.
Bitcoin ETFs were in decline for a while and are now experiencing growth in the hundreds of millions of dollars. This comes at a time when the Bitcoin token is only moving upward 0.53% in the last week.
BTC/USDThese ETFs are going through an uncertain growth phase that is declining at the moment, having dropped from $130 million down to $80 million in inflows over a couple of days. This shows that the growth may be stuttered, but there is definitely strong movement there that could move the needle on Bitcoin’s value as a token.
Bitcoin’s Struggling Performance
Over the last 24 hours, Bitcoin has moved only 0.55% and is valued at $18,386 (BTC/USD). That is a small step up from the previous day when the price was below $118K. Now that it has moved past that psychologically significant milestone, the coin may have a better chance of gaining momentum this week.
We have seen little movement from Bitcoin lately, even with the rest of the market moving dramatically between exceptional highs and depressing lows over a short period. Bitcoin has remained relatively stable and steadfast, which is both good and bad. This is positive for Bitcoin because it shows that it is not as fragile as other digital tokens. It is bad for the coin because this lack of movement led to investors not bothering to trade the coin much lately and losing interest in BTC.
Bitcoin is being described as impressively stable by some analysts with superb potential to climb high in the near future. How Bitcoin fares this week will depend on what comes out of the Federal Reserve meeting later today as well as the end of negotiations between China and the United States over international trade and tariffs. We may see only slight movement from the coin, though, since it has demonstrated that it is not easily moved lately.
- Check out our free forex signals
- Follow the top economic events on FX Leaders economic calendar
- Trade better, discover more Forex Trading Strategies
- Open a FREE Trading Account
Save